It’s always a mistake to look to year-on-year comparisons for CEO pay, and some negative numbers in the proxy are based on stock price, not a refund to the treasury, so the term “cuts” is not exactly accurate.

Underpinned by larger long-term stock and equity packages, median CEO pay at large companies rose 3.1% last year. However, pay growth is slowing. The numbers are down from a median pay increase of 13.2% for 2021, according to an analysis by ISS Corporate Solutions.That slowing average growth is due, in part, to a rash of pay cuts for top execs — nearly half of S&P 500 companies trimmed their leaders’ compensation last year amid the turbulent economic environment, according to ICS.Some of these companies include Howmet Aerospace Inc., Intel Corporation, Kinder Morgan, Inc., Qualcomm Inc. and Warner Bros. Discovery, Inc., according to ICS.

Agenda – Nearly Half of Big Companies Cut CEO Pay